Power Bank Market worth 25.16 Billion USD by 2022

According to the new market research report "Power Bank Market by Capacity Range (500–3499 mAh, 3500–6499 mAh, 6500–9499 mAh, 9500–12499 mAh, 12500–15499 mAh, and Above 15500mAh), Number of USB Port, Energy Source (Electric and Solar), Battery Type, Application, and Region - Global Forecast to 2022", the power bank market is expected to be valued at USD 25.16 Billion by 2022, growing at a CAGR of 21.2% between 2017 and 2022. The factors driving the growth of the market include the increasing usage of electronic devices, technological advancements, and shortage of electricity in certain countries.

“Capacity range of 9500–12499 mAh to hold the largest size of the overall power bank market by 2022“

The capacity range of 9500–12499mAh accounted for the largest share of the power bank market in 2016. The rising adoption of power banks that are capable of charging a device several times is expected to drive the growth of the market for power banks with a capacity range of 9,500–12,499 mAh.

“Market for solar energy-based power banks to grow at a high rate between 2017 and 2022”

The adoption of solar-based power banks is lower compared with that of electric-based power banks due to their higher prices. Also, the solar-based power banks take longer time to recharge electronic devices. However, these devices help in saving electric energy and can be used while traveling. This factor is expected to increase their adoption in the future.

“APAC expected to hold the largest size of power bank market between 2017 and 2022”

The growth of the overall market in APAC is mainly driven by the development in the smartphone market. The presence of prominent players and the entry of new market players are expected to create huge opportunity for the power bank market in APAC. In addition, China is the largest manufacturing hub for power banks in APAC.

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